The Norwegian national team advanced further than the Swedes in the World Cup.
At the same time, the Oslo Stock Exchange (OSEAX), which has risen by approximately 17 percent so far this year, has completely outpaced the Stockholm Stock Exchange (OMXSPI), whose rise over the same period can be summed up as 7 percent.
But it is not the World Cup success that is behind the Norwegian stock market euphoria, but rather the Iran war, uncertainty around the Strait of Hormuz and a shaky commodities market, explains Sundfør.
The Oslo Stock Exchange consists largely of gas, oil, salmon, shipping and finance companies.
It is the oil, gas and shipping sectors that are mainly driving much of the rise, she says.
Huge rise
Energy prices have been volatile, with a sharp rise after the Iran war began. Shipping prices have risen as ships have been stuck in the Strait of Hormuz.
The energy sector has slowed down a bit since the peace negotiations between the US and Iran, but in general it has led to a huge upturn on the Oslo Stock Exchange, says Sundfør.
Norwegian oil giants Equinor and Aker BP have surged 34 and 18 percent respectively on the stock market so far this year. The share prices of tanker company Frontline and freight company Wallenius Wilhelmsen have soared 63 and 34 percent respectively.
Raw materials companies such as Yara and Norsk Hydro have also done well, Sundfør points out. Norwegian defense group Kongsberg has surged over 25 percent this year - significantly more than Swedish Saab.
Looks good
Today, July 5, Norway faces five-time champion Brazil in the round of 16 of the World Cup. Regardless of whether they win or not, Sundfør believes that the Norwegian stock market joy will continue.
The earnings in the companies look very good, so it wouldn't surprise me if things continue to go relatively well.
Do you have a positive outlook on the future?
I actually do, says the Norwegian savings economist.
